4:20 pm : Investors looking for bargains following recent market weakness looked past a surge in bond yields.� Instead, they embraced upbeat corporate news, a narrowing trade deficit and finally, for the moment anyway, sidelined their pre-occupation with higher energy bills as oil prices fell from 7-month highs. Crude oil futures�closed down 0.5% and below $69/bbl following a larger than expected build in weekly crude inventories to 8-yr highs.
It is worth noting, however, that even though the market showed some resilience in the face of a sell-off in Treasuries, as
Wash Your Hands. It's not sneezing or breathing that transmits most cold germs -- it's hand-to-hand or hand-to-face contact. Washing your hands regularly sends cells that may have been in contact with germs down the drain.
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1:58 pm PT Market Wrap : Investors looking for bargains following recent market weakness looked past a surge in bond yields. Instead, they embraced upbeat corporate news, a narrowing trade deficit and finally, for the moment anyway, sidelined their pre-occupation with higher energy bills as oil prices fell from 7-month highs.
1:37 pm PT Universal Technical Institute issues Q2 & FY06 guidance (UTI) 29.35 : Co sees Q2 revs of $88-89 mln vs $90.14 mln Reuters consensus. The co is targeting an 11.0-13.0% increase in net revenue for the year ending September 30, 2006 as compared to the prior year, or roughly $345.0-351.2 mln vs $365.5 mln consensus. change. Due to the unpredictable nature of the external environment, as well as expected investments and changes to infrastructure, the co�is discontinuing guidance for future periods. While the company is focused on stabilizing key operating trends such as persistence, and show rates, external and internal factors continue to persistence, and show rates, external and internal factors continue to negatively impact the co's ability to recruit, show and retain students according to plan. Specifically, recruitment efforts and student starts in the southern region lag the prior year due to the lingering hurricane impact and the recovery efforts in the south. A strong labor market across the country coupled with affordability concerns due to climbing interest rates and increased gas prices have made it more challenging and expensive to recruit and start students.
1:34 pm PT Intl Rectifier exploring potential sale of all non-focus products business (IRF) 41.37 +0.22 : Co announces that it is exploring the potential sale of all the company's Non-Focus Products business, including both its Non-Aligned Products and Commodity Products segments. Non-Focus Products comprised 23% of co revs in the most recently reported qtr. These products are not considered to be aligned with the co's long-term objectives or do not meet its gross margin and revenue growth targets. Goldman, Sachs & Co. has been retained to advise the co on a possible sale.
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